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Bank receives first Fitch rating

Bank receives first Fitch rating

Auswide Bank has announced that it has received a first-time credit rating of BBB+/F2 (long term/short term) with a stable outlook from Fitch Ratings.

The rating is the first Auswide Bank has had from Fitch, after it withdrew its last rating from Standard & Poor’s (which was a BBB-/A-3 rating with a stable outlook).

Managing director Martin Barrett said that the Fitch rating was a testament to the strength of the bank, including its “robust capital, strong risk management processes and sound asset quality”.

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The bank added that the dual rating, which includes Moody’s rating of Baa2/P2 (stable outlook), provides a “strong platform to maintain growth in the bank’s residential, business and consumer finance lending”.

[Related: S&P downgrades bank’s outlook]

Bank receives first Fitch rating
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